Agenda and minutes

To approve the minutes of the meetings held on 2009 (AU3) and to receive for information any matters arising from them

11:40

Cabinet Member for Finance & Property:            Councillor C.H. Shouler

Contact:                                                                     Alexandra Bailey, Corporate Performance & Review Manager

Report by Head of Strategy (AU5).

This risk management annual report highlights the advances that have been achieved since September 2008 and suggests potential actions and improvements to be taken forward to the following year. These potential actions (if agreed) can be developed into the next risk management improvement plan.

The Committee is RECOMMENDED to:

(a)              note the progress to date; and

(b)              provide any feedback on the report.

12:00

(a)               Report to those charged with governance 2008/09 (Oxfordshire County Council)

Cabinet Member for Finance & Property:            Councillor C. H. Shouler

Contact:                                                                     KPMG LLP

The report (AU(6)(a)) meets requirements for the external auditors to communicate to those charged with governance audit matters of governance interest that arose from the audit of the financial statements.  It summarises the key issues identified during the audit of the County Council’s financial statements for the year ended 31 March 2009. It also summarises KPMG’s assessment of the County Council’s arrangements for securing value for money in its use of resources.

(b)               Report to those charged with governance 2008/09 (Oxfordshire County Council Pension Fund Accounts)

Chairman, Pension Fund Committee                    Councillor David Harvey

Cabinet Member for Finance & Property               Councillor C.H. Shouler

Contact:                                                                       KPMG LLP

The report (AU(6)(b)) meets requirements for the external auditors to communicate to those charged with governance audit matters of governance interest that arose from the audit of the Local Government Pension Fund Accounts.

The Committee is RECOMMENDED to accept the reports (AU(6(a) and (b)) to those charged with governance and note any comments from KPMG LLP. 

(c)               Statement of Accounts 2008/09 Audit Adjustments

and

(d)               Letter of Representation to the Auditors

Cabinet Member for Finance & Property:            Councillor C. H. Shouler

Contact:                                                                     Stephanie Skivington. Strategic Finance Manager (Financial Accounting & Reporting)

The reports to those charged with governance by KPMG LLP provide a summary of the changes required to the accounts identified during the course of their audit. The report (AU6(c)) provides further information on the impact of these changes on the accounts. 

The Letter of Representation to the Auditors (AU6(d)) complies with auditing standards which require KPMG LLP to obtain representations from management on certain matters material to their opinion. 

The Committee is RECOMMENDED to note any changes required by the external auditors to the Final Statement of Accounts 2008/09 and agree the Letter of Representation to the Auditors. 

12:40

Cabinet Member for Finance & Property:            Councillor C.H. Shouler

Contact:                                                                     Georgina Paton, Principal Financial Manager (Corporate & Professional Standards)

Report by Chief Finance Officer (AU7).

In the second half of 2008 Local Government Futures Ltd (LGF) reviewed financial management arrangements across Oxfordshire County Council.  There were no particular weaknesses that the review was intended to address, the main purpose was to further improve and move towards best practice financial management.  All services were included in the review, with the exception of schools.

The review concluded that Council scored well against the CIPFA Model, and compared to other authorities.  As expected scope for improvement was identified in a number of areas.

The report summarises the progress made so far with FMAP for review by the Committee.

The Committee is RECOMMENDED to note the progress to date and give any feedback on the monitoring report to the Chief Finance Officer.

1:00

Cabinet Member for Finance & Property:            Councillor C.H. Shouler

Contact:                                                                     Ian Dyson, Assistant Head of Finance (Audit)

The report (AU8) summarises matters arising from the most recent meeting of the Audit Working Group (AWG).

The Committee is RECOMMENDED to

(a)              note the report;

(b)              obtain assurance from Officers that corrective action over poor performance within the Fairer Charging System is being dealt with as a priority; and

(c)               agree the AWG should continue to monitor the performance of the Fairer Charging System until satisfied improvements have been embedded and good performance is routinely achieved. 

1:30

Leader of the Council                                              Councillor Keith R. Mitchell CBE

Contact:                                                                     Peter Clark, Monitoring Officer

Report by County Solicitor & Monitoring Officer (AU9).

The Council has received the Local Government Ombudsman's Annual Review of Oxfordshire County Council for the year ended 31 March 2009. This document provides a summary of the complaints made against the Council and comments on our performance and complaints handling arrangements. Members are asked to consider the implications of this Review.

The Committee is RECOMMENDED to note and comment upon this report and on the Local Government Ombudsman’s Annual Review of Oxfordshire County Council for 2008/09

1:40

Cabinet Member for Finance & Property:            Councillor C.H. Shouler

Contact:                                                                     Ian Dyson, Assistant Head of Finance (Audit)

Report by Assistant Chief Executive & Chief Finance Officer (AU10).

Following the Icelandic Bank issues that affected many public sector organisations the Department for Communities and Local Government (DCLG), and the Audit Commission has recently published reports on what improvements should be made to the governance of Treasury Management within Local Authorities; this includes recommendations that the Audit Committee should have a role in monitoring the effectiveness of the governance arrangements.

This paper is to inform the Committee of the recommendations and then for the Committee to determine how it wants to take this matter forward. 

The Committee is RECOMMENDED to

(a)              RECOMMEND Council to amend the Committee’s terms of reference to include specifically the role of scrutinising and monitoring treasury management policies in accordance with the Audit Commission recommendation;

(b)              dedicate the development session before the next Audit Committee to training in treasury management;

(c)               request officers report back to the next committee meeting with a self assessment and action plan for implementing the recommendations set out in the Audit Commission report; and,

(d)              consider future reporting requirements with regard to its role in scrutinising and monitoring treasury management policies.

1:55

Contact:                                                                     (Geoff Malcolm/relevant

officers)

To update/review the Committee’s Work Programme (AU11).